Investing.com - PayPal Holdings Inc (NASDAQ:PYPL) reported second quarter earnings that beat analysts' expectations on Wednesday and revenue that fell short of forecasts.
The firm reported earnings per share of $0.86 on revenue of $4.31B. Analysts polled by Investing.com anticipated EPS of $0.69 on revenue of $4.33B. That compared to EPS of $0.58 on revenue of $3.86B in the same period a year earlier. The company had reported EPS of $0.78 on revenue of $4.13B in the previous quarter.
PayPal Holdings Inc shares lost 4.37% to trade at $116.00 in after-hours trade following the report.
For the year, PayPal Holdings Inc shares are up 44.25%, outperforming the Nasdaq 100 which is up 29.23% year to date.
PayPal Holdings Inc follows other major Financial sector earnings this month
On July 16, JPMorgan reported second quarter EPS of $2.82 on revenue of $29.57B, compared to forecasts of EPS of $2.5 on revenue of $28.84B.
Bank of America earnings beat analyst's expectations on July 17, with second quarter EPS of $0.74 on revenue of $23.08B. Investing.com analysts expected EPS of $0.71 on revenue of $23.11B
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